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Minsk authorities expect exports to increase significantly in next five years

Exports of Minsk-based companies are projected to increase by $1 billion annually in the next five years, Mikalay Ladutska, head of the city government, told reporters on Wednesday, as quoted by BelaPAN.

“This is an extremely important and complicated task,” he said.

The growth target is specified in a draft export program for the next five years that the city authorities plant to adopt soon. Representatives of the business community contributed to the development of the program.

Mr. Ladutska said that exports of Minsk-based companies increased this year as well, with tractors, trucks and petrochemical products accounting for their major part.

According to the Minsk City Executive Committee’s statistics department, Minsk’s exports went up by 10.2 percent year-on-year to almost $5.4 billion and imports by six percent to $6.89 billion in the first seven months of 2010. They were initially projected to rise by 26 to 28 percent and by 16 to 18 percent, respectively, this year.